Surface Miners Insurance
Insurance for mine worker who remain above ground is much easier to obtain than for those working underground, however there are still a few things to look out for. Mine sites can be dangerous places, even if you remain aboveground at all times. For this reason, the insurance companies are a little more cautious when offering miners insurance.
Types of Cover Available
Miners can generally obtain all of the same types of insurance as anyone else, however you will have to look a little harder in some cases to find suitable cover. This is where a mining insurance professional can help.
The most common forms of insurance for miners are Income Protection and Life Insurance.
A miners Life Insurance policy can provide funds to repay debts and take care of your family in the event of your death. A good insurance policy will cover you for any form of illness as well as any accident that happens on the mine site.
Another very important form of cover for miners is Income Protection insurance. We all know that mining can be a very lucrative career, and you need to protect that high level of income with a decent insurance policy that will cover you for illness of injury.
Additional forms on insurance for miners include TPD insurance and Trauma Insurance. Many superannuation funds will include some level of TPD insurance, however typically the amount is not sufficient for the average miner.
Trauma Insurance is less popular with mine workers, however it is no less important. The good news is that Trauma Insurance is generally very easy for miners to obtain since the occupation has little bearing on the cover.
Working with Explosives
Whilst aboveground miners do get it easier when it comes to insurance compared with their underground colleagues, those working with explosives will still find that cover can be tricky.
The insurance companies don't like risk, and working with explosives definitely presents a risk. There are a small number of insurers who will still provide cover to miners working with explosives, so you just need to know which insurer to use.
Choosing an Insurer
As mentioned earlier, not all insurers offer insurance for miners or other staff who work on mining sites. This doesn't mean that you cannot obtain decent insurance, but it does mean that you need to look a little harder to find an insurance company that is going to provide good cover at a reasonable price.
The easiest option is to utilise the services of an insurance adviser who specialises in mining insurances. Here at Underground Insurance we have access to a network of financial advisers who specialise in the mining sector and know which insurers will look after you best.
Obtaining Quotes for Miners
Quotes for insurance can be obtained easily directly from the insurance companies, but keep in mind that not all companies will insure you as a miner. The easiest option is to use a insurance firm like ours which specialises in mining insurance quotes.
If you work as a Mine Supervisor rather than a labourer, make sure you let the insurance company know as this may result in a lower premium for you.
To obtain a quote on your miners insurance simply complete our online quote request.